FIN 571 Week 1 Connect Lab Latest 2016 Version

Jun 19th, 2016

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University of Phoenix

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1. A business created as a distinct legal entity is called a:
2. Which one of these best fits the description of an agency cost?
3. One disadvantage of the corporate form of business ownership is the:
4. A partnership:
5. The primary goal of financial management is to
6. Which one of the following business types is best suited to raising large amounts of capital?
7. Accounting profits and cash flows are generally
8. Gerold invested $115 in an account that pays 5 percent simple interest. How much money will he have at the end of 7 Years
9. What is the future value of $1,050 a year for 5 years at a 7 percent interest
10. What is the future value of $3,244 invested for 10 years at 5.00 percent compounded annually
11. First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a $59,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end

1. A business created as a distinct legal entity is called a:corporation.2. Which one of these best fits the description of an agency cost?the payment required for an outside audit of the firm3. One disadvantage of the corporate form of business ownership is the:double taxation of profits4. A partnership:creates an unlimited liability for all general partners for the partnership debts.5. The primary goal of financial management is tomaximize the current value per share of the existing stock6. Which one of the following business types is best suited to raising large amounts ofcapital?Corporation7. Accounting profits and cash flows are generallydifferent because of GAAP rules regarding the recognition of income8. Gerold invested $115 in an account that pays 5 percent simple interest. How much moneywill he have at the end of 7 Years$155.25Ending value = $115 + ($115 x .05 x 7) = $155.259. What is the future value of $1,050 a year for 5 years at a 7 percent interest$6,038.28AFV=1,050 * ((1+0.07)^5 1 )/ 0.07=6,038.2810. What is the future value of $3,244 invested for 10 years at 5.00 percent compoundedannually$5,284.13FV==3244*(1+0.05)^105284.1311. First City Bank pays 7 percent simple interest on its savings account balances, whereasSecond City Bank pays 7 percent interest compounded annually. If you made a $59,000deposit in each bank, how much more money would you earn from your Second CityBank account at the end of 9 yearsDiff